What do you guys spend your money on?

Started by clutchtho
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clutchtho

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7+ Year Member
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Just for fun or recreationally to enjoy yourself? With all the doom and gloom about your profession, i was wondering if i could see the other half of you. I've spoken to pharmacists who complain they're always broke and need more money, but then you see they eat out every day, get starbucks everyday, drive a mercedes, one or two trips a year and stuff. Clearly, it takes huge student loans and a lot of irresponsibility to be broke all the time as a pharmacist.

Or kids, kids might do it

Are you a car person? clothes person? traveler? etc.

Thanks!
 
I'll probably buy a nice car and invest what I can't spend golfing and eating at red lobster. This is of course after I pay off my loans in record time. If you have kids it's a different ball game.
 
clutchtho said:
I've spoken to pharmacists who complain they're always broke and need more money, but then you see they eat out every day, get starbucks everyday, drive a mercedes, one or two trips a year and stuff. Clearly, it takes huge student loans and a lot of irresponsibility to be broke all the time as a pharmacist.
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That's exactly the debtor's life. Borrow, spend, then work like a dog to pay it back.

You can avoid it by paying off your loans, and if you're really hardcore, your mortgage too, then only spending money that you have. Avoiding debt is how you put a boundary on your spending, and this also helps you find contentment, instead of falling into a vicious cycle of spending more and borrowing more.

Plus once you're no longer paying off your debts from your past spending, you'll find that you have plenty of money to spend in the present, save for the future, and even be generous to others.
 
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First purchases will be a king size tempur-pedic and a 70inch TV when I finish school.

Then I'll hammer out loans for years to come, emergency fund, 401k, IRA, investing stocks a little bit...etc.
 
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Max out my 403b, HSA, Roth IRA, Wifes Roth IRA = $32,100 in retirement per year - then 3-4 big trips a year (passport/hawaii level trips) - then 5-6 long weekend trips per year. Basically I want to go somewhere or do something most months - gotta enjoy life - I am not a "stuff" guy - I own a simple townhome, drive a basic car, eat out rarely (grab beers with friends a lot).
 
max out his and her 401ks (~46k with match), paying off student loans, keeping a small but nice cushion (15-20k). Take 5-10k per year in vacation, mainly 2-3 a year due to low leave accumulation at this time.

We definitely eat out too often and could probably save 500-1k per month on food alone if we cut back. We don't have kids yet. Will splurge on a nice luxury suv for the wife in the future when our current student loans and car loans are gone which will free up ~2k a month in payments. Hard to pay off car loans early tho when interest rate is ~1.5%.
 
I actually crunched the numbers for myself and last year I spent $16,700 on housing and $18,264 (over $1,500 a month not on housing... ugh) on everything else (that isn't student loans, like food, gas, clothing, entertainment), and I thought I was a profligate spender last year. There is $64k in student loans that I paid last year that can be freed up for other things once I'm done paying them off, but I live a very simple life. No air travel in 2016, no big-ticket purchases, no escorts, no drug habit
 
16508073_10154703180138429_2077459204592421703_n.jpg

Going to spend mine on not having kids.
 
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PumpkinSmasher said:
When it comes to splurge money we spend it on travel, music and food.

Don't get me wrong I like BMWs and other overpriced cars but I like luxury international vacations and advebtures way more!😉
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Memories > material things. It stays with you til you die and becomes more valuable as you age.
 
Daycare and other kid stuff. Before I had my baby a year ago, we used to travel a lot more.

Also second the going out to eat thing. I used to rarely eat out, now it's not really a big deal for us to spend whatever we feel like on food if we are too tired to cook or whatever.
 
Dred Pirate said:
Max out my 403b, HSA, Roth IRA, Wifes Roth IRA = $32,100 in retirement per year - then 3-4 big trips a year (passport/hawaii level trips) - then 5-6 long weekend trips per year. Basically I want to go somewhere or do something most months - gotta enjoy life - I am not a "stuff" guy - I own a simple townhome, drive a basic car, eat out rarely (grab beers with friends a lot).
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I would like to say I'm doing that.. buuuutttt....

My 403b is close to being maxed out and I should be able to manage that after putting my last raise into it. After that I'm wanting to get an IRA going. I'm also a big fan of the simple life with a small house/condo/whatever makes sense for your area. I'm still living in the modest house I bought when I was 22 (the one perk of living in the midwest/south), and if I make it back down to Florida I'll probably go for a 2 bedroom condo.

I just can't accept the simple car. I'm working a second job to save up for a Tesla.. hey, a man has to have something.
 
Hmm since I wouldn't use a vette as a daily (winter driving and would look like a total ass to coworkers) and am not interested in "luxury" cars like BMW etc. I'm thinking maybe of getting a scat pack charger or a ram rebel. Challenger is ugly and I see too many middle aged women and old farts in 6 cylinder automatic stangs/camaros to want one now. Teslas seem cool but I would not want to own one, and the type of people who buy them tend to annoy me lol. I could always just settle for a mid-sized sedan or SUV too but kind of want to buy something cool.
 
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Food. Lots of food. I used to eat at restaurants a lot, then I learned how to cook and I'm at that point where I can cook better food at home for cheaper...so now I spend money on good ingredients, and some food tech (just started cooking sous vide).


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I might splurge on a self driving car in 10 years once they sort out the bugs and kink that kill people on the road. I'm going to keep my beaten up 08 Accord til then.

VR in 3 yrs also, there are probably great games being developed and more high end content as it replaces traditional gaming.

Eat out once in a while with friends + possibly going back to my hometown for 3 weeks soon

Until then the rest of $$$ going straight to after tax portfolio...
 
We have enough in a trust now to use only the interest to pay for permanent house help in the interim. Once you have hired a permanent housekeeper, you'll never have domestic disputes about laundry and other household drudgery again. Absolutely the best purchase decision we've ever made in our marriage.

If we had children, we'd use the principal to fund whatever it takes to get to and finish at Loomis Chaffee or Phillips Exeter (~$500k per child). No daycare expenses or other rebellious teenage issues, they can learn the proper way to snort the good stuff from their peers. Daddy would happily work purely to pay that tuition alone.
 
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lord999 said:
We have enough in a trust now to use only the interest to pay for permanent house help in the interim. Once you have hired a permanent housekeeper, you'll never have domestic disputes about laundry and other household drudgery again. Absolutely the best purchase decision we've ever made in our marriage.

If we had children, we'd use the principal to fund whatever it takes to get to and finish at Loomis Chaffee or Phillips Exeter (~$500k per child). No daycare expenses or other rebellious teenage issues, they can learn the proper way to snort the good stuff from their peers. Daddy would happily work purely to pay that tuition alone.
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I actually thought you were serious until I got to the second paragraph lol
 
I just put in a home theater with a 11.2 klipsch sound setup and 120 inch screen powered by an epson 5040ub projector...quite awesome. Besides frivolous stuff, I collect houses that people pay me to live in temporarily and buy lots of tiny fractions of companies that pay me a tiny fraction of their profits.
 
Travel, eating out, sports games, skiing. I also prefer memories over material possessions. Don't care about electronics, cars or clothes.
 
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Mostly travel for my wife and I, but we did recently buy a 35+ acre parcel down the road. We're presently planting it up as a restoration project -- ectomycorrhizae (re)introduction, native and specimen tree installation. We don't have kids, so the plan is get easements all over and turn it into a park someday.
 
Just bought a 250cc sportbike to derp around on. Mostly just spend it on loans and live modestly though.
 
You guys are very responsible. ^_^ After loans and essentials, I like going to one concert a month and am a huge foodie, so lots of tastings at new restaurants.
 
I try to travel at least once a year (outside of the US) and I indulge once every two years in my designer purse habit. I also horseback ride to keep myself outside in the sunshine (i.e. out of the pharmacy) and for fitness. I also make sure to pay my loans, mortgage, bills and retirement like most people. I also help my family when they need me, financially. I enjoy good food, but I don't eat out that much anymore because I definitely feel a hit on my health post-eating out. I love cooking so I read food blogs frequently and I probably own almost every kitchen gadget you can think of: sous vide, stand mixer, food processor, slow cooker, cast iron Dutch oven, stick blender....

I'm careful with my money, but I feel like one could always improve/learn more on how to budget/invest/spend wisely.
 
Most of my money goes to my student loans and daycare, but that's because I work hospital PT

With the money we foolishly spend instead of being gazelle intense.... we bought a 17 foot then 23 foot hybrid pop up camper. We glamp 6-8 times a year and were Disney AP holders.

Everything else we do for fun is usually "free." Parks, Beach and hubs and I are runners.
 
Dr Wario said:
I just put in a home theater with a 11.2 klipsch sound setup and 120 inch screen powered by an epson 5040ub projector...quite awesome. Besides frivolous stuff, I collect houses that people pay me to live in temporarily and buy lots of tiny fractions of companies that pay me a tiny fraction of their profits.
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This guy one-upped the crap out of me. 11.2? What are you doing, putting speakers in the ground below you? Here I was proud of my 5.1. But yeah, I do the house thing too.
 
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TheBlaah said:
This guy one-upped the crap out of me. 11.2? What are you doing, putting speakers in the ground below you? Here I was proud of my 5.1. But yeah, I do the house thing too.
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Not in the ground, sadly the floor is solid concrete...but I was thinking of getting theater seating with built in body shakers! In all seriousness though, 4 of the speakers are in-ceiling, so likely going to convert at some point to 7.2.4 atmos setup once you can get a decent receiver for a price that is not outrageous.
 
Mcdonald's dollar menu, and if i feel like i need to spoil myself I would check out the wendy's dollar menu.
 
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